Why It Made Sense for an Online Community College to Raise Venture Capital
Imagine an online community college that’s not only breaking traditional educational norms but also pulling in huge amounts of venture capital. Welcome to Campus, the brainchild of Tade Oyerinde. This innovative online college has already raised over $55 million in venture funding, redefining what it means to get a community college education in the 21st century.
The Challenges of Fundraising
Raising venture capital for an online community college isn’t exactly a walk in the park. Initially, Tade Oyerinde faced a tough crowd. Investors were skeptical about backing an unconventional model that hadn’t been tried before. But Oyerinde didn’t give up. He shifted his focus to investors who had experience with community colleges and understood the need for innovation in this space.
Key Investors on Board
Finding the right investors was crucial. Sam Altman, the founder of OpenAI, and Jason Citron, the founder of Discord, were among the first to back Campus. Both had personal connections to community colleges and understood the potential for transformation. Their support was a big win because they brought not only funds but also credibility to the project.
